Owner Financing on Condo

[Ted Sandoz]

May have found a deal on a condo (non warrantable) that the owner is offering Owner Financing, has anyone done these deals and have examples as a buyer fair terms. FYI 625,000 selling price. Pros/Cons as a buyer, of course will be a STR added to our portfolio.

[Shafi Noss]

If the seller has remaining debt on the property you will need to bring enough cash to clear that debt. 

If you bring a loan to clear that debt, both the lender and the seller will have to be comfortable with the seller in 2nd position.